Edmonton Real Estate Market

[Barnaby]

Right to be cool? Edmontonians call for mandatory air conditioning, cooling measures | Globalnews.ca

'It makes perfect sense that we treat access to cooling as a fundamental human right, the same way we think of access to warmth in winter as a fundamental human right.'

globalnews.ca

Just plant more trees. It turns out that +30 degrees isn't that hot in the shade around vegetation.

 

[_urbanite]

Just plant more trees. It turns out that +30 degrees isn't that hot in the shade around vegetation.

I'm fortunate enough to live in an area (Highlands) with mature trees covering every street. It definitely makes a big difference on a week like the one we've had.

 

[Gronk!]

That`s fine for residential neighborhoods with lots of mature trees such as yours, but what about areas such as downtown, Wihkwentowin, 124 St, Old Strathcona, Strathearn, Ritchie, etc? Moreover, trees may not make a difference when there are landlords and condo building managers who don't allow air conditioners in suites.

 

[TAS]

Wîhkwêntôwin​

Top 3 neighbourhoods in Canada for livability, baby!

Edmonton's Wîhkwêntôwin neighbourhood, formerly Oliver, high on national livability list

The central Edmonton area is one of the top three most "livable" neighbourhoods in Canada, the others being in Calgary and Winnipeg.

edmontonjournal.com

 

[Gronk!]

How much is your place worth? Heat map shows Edmonton property value assessments

The City of Edmonton has had hot weather this July, and it also has a heat map just in time for the start of a new property tax season,

edmonton.ctvnews.ca

 

[Kosy123]

Wîhkwêntôwin​

Top 3 neighbourhoods in Canada for livability, baby!

Edmonton's Wîhkwêntôwin neighbourhood, formerly Oliver, high on national livability list

The central Edmonton area is one of the top three most "livable" neighbourhoods in Canada, the others being in Calgary and Winnipeg.

edmontonjournal.com

For the average rent in Wihkwentowin and what you get, I'm not surprised at this at all. Can't wait for the spillover of this to downtown in some way 5-10 years down the road.

 

[_urbanite]

Local, private investors snap up Edmonton's office properties - RENX

“As institutional investment funds reallocate their portfolios to different asset classes and geographies, Edmontonians have invested $135 million, leveraging their knowledge of local market dynamics and the economic growth driving the region forward,”

 

[IanO]

Generally speaking (to a point) the lower the cap rate the more attractive and in demand it is.

Link to source:

https://www.linkedin.com/in/cory-wosnack-62633479?miniProfileUrn=urn%3Ali%3Afsd_profile%3AACoAABCZxX4BxDWMM4wToE_e-Tw2jfz0XKJVyq8&lipi=urn%3Ali%3Apage%3Ad_flagship3_feed%3BXzIokqcKTaSdwJnGoDwwXw%3D%3D

 

[EdmTrekker]

The 60-70.000 people moving here into the metro region must be living in tents.

 

[IanO]

Excess supply, relatively low rents and high construction prices impact that.

 

[EdmTrekker]

Excess supply, relatively low rents and high construction prices impact that.

Higher construction costs than which other cities and is there a breakdown by labour cost, materials, land etc. comparatively?

 

[IanO]

Edmonton (as with Calgary) has traditionally commanded a premium vis a vis other major centres (although Toronto has been quite high recently due to capacity constraints) due to relatively high comparable wages, oil er 'energy' industry competition for trades/skilled labour (higher wages)/materials and higher transportation costs for materials.

 

[Barnaby]

I agree with Ian. The best people in the Alberta construction industry are usually pulled towards the energy or chemical sector.

I don't know how SFHs are going to be scalable compared to multifamily soon. Usually residential is the first thing tradespeople try to escape from, commercial/multifamily construction is the typical destination.

Edmonton greater is also having a few very large scale construction projects happening at once to go along with any new housing starts.

 

[IanO]

Housing starts for June 2024

June 2024 housing starts data for Canada.

www.cmhc-schl.gc.ca

 

[David A]

I agree with Ian. The best people in the Alberta construction industry are usually pulled towards the energy or chemical sector.

I don't know how SFHs are going to be scalable compared to multifamily soon. Usually residential is the first thing tradespeople try to escape from, commercial/multifamily construction is the typical destination.

Edmonton greater is also having a few very large scale construction projects happening at once to go along with any new housing starts.

Yes, average wages are higher here for many jobs, certainly including construction. However, not having many other large scale projects happening may help with cost/demand for residential construction.